The Ninth Ministerial Conference of the World Trade Organization (WTO) concluded in Bali, Indonesia, on December 7, 2013. The meeting issued the "Bali Ministerial Declaration (Draft)" and reached the first agreement after the establishment of the WTO. The multilateral trade agreement - the "Bali Package Agreement", is also known as the "early harvest" of the Doha Round negotiations. So far, the Doha Round negotiations have made breakthrough progress, marking the revitalization of the multilateral trading system amid the rapid development of bilateral and plurilateral trade agreements.

1. Main contents of the Bali Package Agreement

The "Bali Package Agreement" includes four topics including trade facilitation, agriculture, cotton, development and least developed countries *** 10 copies The document covers simplification of customs and port clearance procedures, allowing developing countries to have more choices on food security issues, and assisting least developed countries in developing trade.

(1) Trade facilitation

The "Trade Facilitation Agreement" summarizes the negotiation results of various issues in the negotiations, and corrects purely formalistic clauses that have no practical effect. Specifically, The content has two parts.

Part One: Mainly measures related to trade facilitation. ***There are 13 articles, 12 of which involve measures to facilitate trade, and 1 is an institutional arrangement;

Part 2: Providing special and differential treatment to developing and least developed members, which is divided into three types of measures: A/B/C. The core content of the agreement is measures such as customs cooperation, transit, pre-inspection, consular fees, and special and differential treatment for developing members. In addition, the agreement decided to establish a preparatory committee as soon as possible to conduct a legal review of the text of the agreement to ensure that the relevant provisions will officially enter into force before July 31, 2015.

The agreement aims to reduce customs clearance costs and improve customs clearance speed and efficiency. It is legally binding and is one of the most significant reforms since the establishment of the WTO. It will speed up customs clearance procedures, promote simpler, faster and lower-cost trade clearance, ensure transparency and efficiency, cut bureaucracy and corruption and promote technological progress.

(2) Agriculture

In addition to general agricultural content, there are also agricultural futures trading, tariff quotas and export competition. The agreement agrees to provide developing countries with a range of agriculture-related services and, under certain conditions, allows developing countries to conduct public grain storage to ensure food security.

(3) Cotton

Cotton, as a separate document, is also included in the agreement. The agreement agreed to further open markets for the least developed countries and provide assistance to these countries to increase cotton production.

(4) Development issues

The agreement agrees to implement a duty-free and quota-free system for goods exported by least developed countries to rich countries; further simplify the identification procedures for export products from least developed countries; Allow services from least developed countries to have priority access to the markets of rich countries; agree to establish a supervision mechanism to supervise the preferential treatment enjoyed by least developed countries. In addition, the 9th Ministerial Conference in Bali officially approved Yemen's accession to the World Trade Organization and became the 160th member of the WTO. Yemen is classified as a least developed country, and its foreign trade mainly focuses on exporting energy and mining products and importing agricultural and industrial manufactured products.